Described herein are a cash register and a ticket vending mechanism that require little or no merchant infrastructure resulting in dramatic cost reduction for merchants. These are made possible through a payer-centric payment paradigm where the payer—as opposed to the merchant—completes the payment transaction without depending on the merchant, resulting in increased payer convenience and payment security.
Legal claims defining the scope of protection. Each claim is shown in both the original legal language and a plain English translation.
3. The payment routing system of claim 2, wherein the payment request created by the cash register's ring-up method further designates the customer's email ID and/or phone number as a payer of the payment request, and wherein the message routing method of the online payment bus further comprises: sending the payment request to the email ID and/or the phone number.
This invention relates to a payment routing system designed to facilitate transactions in retail environments, particularly where customers may need to pay via digital methods such as email or phone-based payments. The system addresses the challenge of integrating traditional cash register systems with modern online payment methods, ensuring seamless and secure transactions. The system includes a cash register equipped with a ring-up method that generates a payment request. This request includes transaction details and is enhanced by designating the customer's email address or phone number as the payer. The payment request is then processed by an online payment bus, which routes the request to the specified email or phone number. This allows the customer to receive and complete the payment digitally, improving convenience and reducing reliance on physical payment methods. The online payment bus acts as an intermediary, ensuring the payment request is correctly formatted and securely transmitted to the customer's preferred contact method. The system supports multiple payment channels, enabling flexibility for both merchants and customers. By integrating email and phone-based payment options, the system streamlines the checkout process and enhances the overall payment experience in retail settings.
4. The payment routing system of claim 2, wherein the peer-to-peer data exchange modality includes the use of barcodes, Quick Response (QR) codes, or wireless technology.
A payment routing system facilitates secure and efficient peer-to-peer transactions by enabling direct data exchange between devices. The system addresses the problem of inefficient and insecure payment methods that rely on intermediaries, such as banks or third-party processors, which introduce delays and additional costs. The system includes a peer-to-peer data exchange modality that allows devices to communicate directly, bypassing traditional payment networks. This modality supports various data transfer methods, including barcodes, Quick Response (QR) codes, or wireless technology. Barcodes and QR codes enable quick and contactless data transmission by scanning visual codes displayed on a device. Wireless technology, such as Bluetooth or near-field communication (NFC), allows for seamless, short-range data exchange without physical contact. By using these methods, the system ensures fast, secure, and cost-effective transactions between users. The system may also include encryption and authentication mechanisms to protect transaction data and prevent unauthorized access. This approach reduces reliance on intermediaries, lowers transaction fees, and improves overall payment efficiency.
5. The payment routing system of claim 2, wherein the cash register initiates execution of a predetermined action upon the payment of some payment requests.
A payment routing system is designed to optimize transaction processing in retail environments by dynamically routing payment requests to different payment processors based on predefined criteria. The system addresses inefficiencies in traditional payment processing, such as delays, failed transactions, or high processing fees, by intelligently selecting the most suitable payment processor for each transaction. This ensures faster approvals, reduced costs, and improved reliability. The system includes a cash register that interacts with multiple payment processors and a routing module that evaluates transaction parameters, such as payment amount, processor availability, or transaction type, to determine the optimal routing path. The routing module may also prioritize processors based on historical performance, cost, or other business rules. In an advanced configuration, the cash register is configured to trigger a predetermined action upon the payment of certain payment requests. This action could include generating a receipt, updating inventory, or notifying a customer via email or SMS. The system ensures that these actions are executed automatically, reducing manual intervention and improving transaction efficiency. The predetermined action is defined in advance and is tied to specific payment conditions, such as transaction success, amount thresholds, or processor selection. This feature enhances automation and streamlines post-transaction processes, making the payment workflow more seamless for both merchants and customers.
7. The payment routing system of claim 6, wherein the payment request displayed on the customer's mobile device includes a field for the customer to enter a tip amount.
A payment routing system facilitates transactions between customers and merchants, particularly in environments where multiple payment processors or financial institutions are involved. The system addresses inefficiencies in traditional payment processing by dynamically routing transactions through optimal payment networks based on factors such as transaction size, merchant preferences, or network fees. This improves processing speed, reduces costs, and enhances reliability. The system includes a payment interface displayed on a customer's mobile device, which allows the customer to initiate a payment request. The interface includes a field for the customer to enter a tip amount, enabling flexible tipping options during transactions. The system processes the payment request, including the tip, and routes it through the most efficient payment network or financial institution based on predefined criteria. The routing decision may consider factors such as transaction fees, processing times, or merchant agreements. Once routed, the payment is processed, and confirmation is sent to both the customer and the merchant. The system may also support additional features, such as transaction history tracking, fraud detection, or integration with loyalty programs. By optimizing payment routing and providing a seamless user experience, the system enhances transaction efficiency and customer satisfaction.
9. The payment routing system of claim 1, wherein the payment request and/or the payment transaction record contains a field for merchants and customers to share information with each other.
A payment routing system facilitates secure and efficient transactions between merchants and customers by routing payment requests and transaction records through a network of payment processors. The system addresses challenges in traditional payment processing, such as delays, high fees, and limited transparency, by optimizing routing based on factors like cost, speed, and reliability. The system includes a payment routing engine that analyzes available payment processors and selects the most suitable one for each transaction, ensuring optimal processing conditions. The system also includes a payment request and transaction record that contains a field for merchants and customers to share information with each other. This field allows for the exchange of additional data, such as order details, customer preferences, or merchant policies, enhancing communication and transparency between parties. The shared information can be used to improve transaction efficiency, resolve disputes, or provide better customer service. The system ensures that this information is securely transmitted and stored, maintaining the integrity and confidentiality of the data. By integrating this feature, the payment routing system not only optimizes payment processing but also fosters better interactions between merchants and customers.
10. The payment routing system of claim 1, wherein the merchant comprises an entity selected from a group consisting of an individual, a physical store, an online store, a vending machine, a kiosk, an institution, and any type of commercial organization.
A payment routing system is designed to optimize transaction processing by dynamically selecting the most efficient payment processing path based on various factors such as transaction type, merchant type, and payment network conditions. The system ensures seamless and cost-effective payment handling by routing transactions through the most suitable payment network or processor. This addresses inefficiencies in traditional payment systems where transactions are often processed through a fixed or suboptimal path, leading to higher fees, slower processing times, or failed transactions. The system includes a merchant interface that interacts with different types of merchants, including individuals, physical stores, online stores, vending machines, kiosks, institutions, and other commercial organizations. The merchant interface collects transaction data and forwards it to a routing engine, which evaluates the transaction details against predefined criteria to determine the optimal payment network or processor. The routing engine may consider factors such as transaction amount, merchant category, payment method, and network fees to make this determination. Once the optimal path is selected, the transaction is routed accordingly, ensuring efficient processing and minimizing costs for both the merchant and the customer. The system may also include fraud detection and risk assessment modules to enhance security and reliability.
11. The payment routing system of claim 1, wherein the merchant is represented by a computer-implemented merchant agent that performs actions on behalf of the merchant, and the customer is represented by a computer-implemented customer agent that performs actions on behalf of the customer.
A payment routing system facilitates transactions between merchants and customers by using computer-implemented agents to automate and optimize payment processing. The system addresses inefficiencies in traditional payment networks, such as delays, high fees, and lack of transparency, by dynamically routing transactions through the most cost-effective and reliable payment channels. The merchant is represented by a computer-implemented merchant agent that handles tasks such as transaction initiation, payment processing, and settlement on behalf of the merchant. Similarly, the customer is represented by a computer-implemented customer agent that manages payment authorization, fund transfer, and transaction confirmation on behalf of the customer. These agents communicate with each other and with payment networks to execute transactions seamlessly. The system may also include features like fraud detection, real-time analytics, and multi-currency support to enhance security and flexibility. By automating these processes, the system reduces manual intervention, minimizes errors, and improves transaction speed and reliability. The use of agent-based representation allows for scalable and adaptable payment solutions tailored to the needs of both merchants and customers.
12. The payment routing system of claim 11, wherein the merchant includes any designated agent of the merchant, and the payer includes any designated agent of the payer.
A payment routing system facilitates secure and efficient transactions between a payer and a merchant by dynamically selecting optimal payment processing paths. The system identifies available payment networks, evaluates their capabilities, and routes transactions through the most suitable network based on factors such as cost, speed, and reliability. It supports multiple payment methods, including credit cards, digital wallets, and bank transfers, and ensures compliance with regulatory requirements. The system also includes fraud detection mechanisms to identify and mitigate suspicious transactions in real time. In this configuration, the merchant and payer can each designate agents to act on their behalf, allowing for flexible transaction processing. These agents may include third-party service providers, intermediaries, or authorized representatives who handle payment authorization, settlement, or dispute resolution. The system ensures that transactions initiated by these agents are processed securely and transparently, maintaining the integrity of the payment flow. By enabling agent participation, the system enhances scalability and adaptability, accommodating diverse business models and regulatory environments. The overall goal is to optimize payment routing while minimizing risks and costs for all parties involved.
14. The payment routing system of claim 13, wherein the payment request displayed on the customer's mobile device includes a field for the customer to enter a tip amount.
A payment routing system facilitates transactions between customers and merchants, particularly in environments where multiple payment processors or financial institutions are involved. The system addresses inefficiencies in routing payments through intermediaries, which can increase costs and processing times. The system dynamically selects the optimal payment processor or financial institution for each transaction based on factors such as fees, processing speed, and compatibility with the customer's payment method. This ensures that payments are routed through the most cost-effective and efficient path. The system includes a user interface on the customer's mobile device that displays a payment request. This interface allows the customer to enter transaction details, including the payment amount. Additionally, the interface includes a field for the customer to enter a tip amount, enabling them to add a gratuity to the transaction. The system processes the total amount, including the tip, and routes the payment through the selected processor or institution. This feature enhances flexibility for customers while maintaining efficient payment routing. The system may also integrate with merchant systems to ensure seamless transaction processing and reconciliation.
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February 28, 2023
June 4, 2024
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